Universal Insurance (NYSE:UVE) Issues Earnings Results, Beats Estimates By $1.57 EPS

Universal Insurance (NYSE:UVE) posted its quarterly earnings results on Tuesday. The insurance provider reported $2.17 EPS for the quarter, topping the consensus estimate of $0.60 by $1.57, FiscalAI reports. Universal Insurance had a net margin of 7.74% and a return on equity of 28.25%. The company had revenue of $403.57 million during the quarter, compared to analysts’ expectations of $372.99 million.

Universal Insurance Stock Performance

Shares of NYSE:UVE traded up $1.75 during trading on Tuesday, reaching $31.98. The company had a trading volume of 273,082 shares, compared to its average volume of 175,693. Universal Insurance has a fifty-two week low of $19.96 and a fifty-two week high of $35.84. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.55 and a quick ratio of 0.55. The stock’s fifty day moving average price is $31.53 and its 200 day moving average price is $29.72. The firm has a market capitalization of $897.15 million, a price-to-earnings ratio of 7.54 and a beta of 0.70.

Universal Insurance Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, March 13th. Stockholders of record on Friday, March 6th will be issued a $0.16 dividend. The ex-dividend date of this dividend is Friday, March 6th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 2.0%. Universal Insurance’s payout ratio is presently 15.09%.

Insider Transactions at Universal Insurance

In other Universal Insurance news, CEO Stephen Donaghy sold 25,000 shares of Universal Insurance stock in a transaction that occurred on Monday, December 29th. The stock was sold at an average price of $34.07, for a total value of $851,750.00. Following the sale, the chief executive officer owned 679,961 shares of the company’s stock, valued at approximately $23,166,271.27. The trade was a 3.55% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Sean P. Downes sold 20,000 shares of the firm’s stock in a transaction that occurred on Friday, December 19th. The shares were sold at an average price of $33.82, for a total value of $676,400.00. Following the completion of the sale, the chairman directly owned 1,243,512 shares of the company’s stock, valued at $42,055,575.84. This represents a 1.58% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 46,855 shares of company stock worth $1,590,497 over the last ninety days. 17.50% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Universal Insurance

Large investors have recently added to or reduced their stakes in the business. Los Angeles Capital Management LLC grew its position in shares of Universal Insurance by 1.3% in the fourth quarter. Los Angeles Capital Management LLC now owns 30,712 shares of the insurance provider’s stock valued at $965,000 after purchasing an additional 405 shares during the last quarter. Susquehanna Fundamental Investments LLC grew its holdings in Universal Insurance by 5.2% during the 4th quarter. Susquehanna Fundamental Investments LLC now owns 9,674 shares of the insurance provider’s stock valued at $327,000 after buying an additional 474 shares during the last quarter. Osaic Holdings Inc. increased its position in Universal Insurance by 11.3% during the second quarter. Osaic Holdings Inc. now owns 5,249 shares of the insurance provider’s stock worth $146,000 after buying an additional 534 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in Universal Insurance by 4.7% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 13,976 shares of the insurance provider’s stock worth $331,000 after buying an additional 630 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of Universal Insurance by 2.0% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 32,920 shares of the insurance provider’s stock worth $1,113,000 after acquiring an additional 657 shares during the last quarter. 66.61% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. Piper Sandler increased their price objective on Universal Insurance from $35.00 to $40.00 and gave the company an “overweight” rating in a report on Monday, December 22nd. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Universal Insurance in a report on Wednesday, January 21st. Zacks Research cut shares of Universal Insurance from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 23rd. Finally, Wall Street Zen upgraded shares of Universal Insurance from a “buy” rating to a “strong-buy” rating in a research report on Saturday, December 27th. Two analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $40.00.

About Universal Insurance

Universal Insurance Holdings, Inc (NYSE: UVE) is a property and casualty insurance holding company headquartered in Jacksonville, Florida. The company underwrites homeowners and other residential property insurance products to protect against natural catastrophes such as hurricanes, windstorms and fires. It distributes policies primarily through a network of independent agents and brokers, offering coverage for primary residences, secondary homes, condominiums, vacant dwellings and rental properties across its service territory.

In addition to personal lines, Universal provides commercial property and casualty insurance tailored to small businesses and institutional clients.